Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County
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Using hedonic price models, appreciable land-value premiums were found for multiple land
uses in different rail corridors of San Diego County. The most appreciable benefits were for
condominiums and single-family housing near commuter-rail stations in the north county, multifamily
housing near light-rail stations, and commercial properties near downtown commuterrail
stations and light-rail stops in the Mission Valley. Elsewhere, commercial properties accrued
small or even negative capitalization benefits. Pro-development policies, worsening traffic
congestion, and a generally healthy economy are thought to have generally boosted land values
in San Diego County, though impacts are corridor- and land-use specific.